HOUSTON, April 4, 2016 /PRNewswire/ -- Sunoco LP (NYSE:
SUN) ("Sunoco") today announced that it has priced at 100% an
upsized private offering of $800
million in aggregate principal amount of 6.25% senior notes
due 2021 (the "notes"). This represents a $300 million increase in the original offering
amount. Sunoco Finance Corp., a wholly owned direct subsidiary of
Sunoco, will serve as co-issuer of the notes. The sale of the notes
is expected to settle on April 7,
2016, subject to the satisfaction of customary closing
conditions.
Sunoco intends to use the net proceeds from the offering to
repay a portion of the borrowings outstanding under its term loan
facility.
The offering of the notes has not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws and, unless so registered, the notes may not
be offered or sold in the United
States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
About Sunoco LP
Sunoco LP (NYSE: SUN) is a master limited partnership that
operates approximately 1,340 convenience stores and retail fuel
sites and distributes motor fuel to convenience stores, independent
dealers, commercial customers and distributors located in 30 states
at approximately 6,800 sites. Our parent – Energy Transfer Equity,
L.P. (NYSE: ETE) – owns SUN's general partner and incentive
distribution rights.
Cautionary Statement Relevant to Forward-Looking
Information
This press release includes forward-looking statements regarding
future events. These forward-looking statements are based on
Sunoco's current plans and expectations and involve a number of
risks and uncertainties that could cause actual results and events
to vary materially from the results and events anticipated or
implied by such forward-looking statements. For a further
discussion of these risks and uncertainties, please refer to the
"Risk Factors" section of Sunoco's most recently filed annual
report on Form 10-K and in other filings made by Sunoco with the
Securities and Exchange Commission. While Sunoco may elect to
update these forward-looking statements at some point in the
future, it specifically disclaims any obligation to do so, even if
new information becomes available in the future.
Contacts
Investors:
Scott Grischow
Director – Investor Relations and Treasury
(361) 884-2463, scott.grischow@sunoco.com
Anne Pearson
Dennard-Lascar Associates
(210) 408-6321, apearson@dennardlascar.com
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SOURCE Sunoco LP